Companies

About 190,000 companies in the European Union were classified as high-growth companies in 2017, with a total 16.4 million employees, shows data released on Tuesday by the European Statistical Office (Eurostat).They represent over one tenth (11.3 per cent) of the total number of active companies with at least ten employees in the EU business economy, up by 2.1 percentage points compared to 2014 (9.2 per cent).In 2017, the distribution of high growth ...

MedLife private healthcare provider has announced the acquisition of the OncoCard Hospital in Brasov, one of the biggest and most modern oncology diagnosis and treatment centers in Romania and in Central and Eastern Europe.
Set up in 2012, ...

The total number of companies having suspended their activity went down almost 21 percent in the first 10 months of 2019 as against the similar period of 2018, reaching 11,871 according to the data centralised by the National Trade Register Office (ONRC).In October a number of 1,019 companies suspended their activity.The largest number of companies having suspended their activity within the first 10 months of 2019 were registered in Bucharest - 1,169, ...

Procter & Gamble, one of the biggest producers of non-food consumer goods in the world, will open its new detergent factory in Romania in 2021.
The factory will be located in Urlati, close to Ploiesti, where P&G also has a shampoo factory, and will employ 120 people, according to P&G officials quoted ...

A modified version of the Renault City K-ZE small electric car currently sold in China could be sold in Europe as well under the Dacia brand and with a new name, starting 2021, according to German car magazine Automobilwoche, ...

Romanian pharmaceutical distribution and retail group Farmaceutica Remedia Deva, listed on the Bucharest Stock Exchange (BVB), seeks to sell its whole 90-unit network of pharmacies, or at least a significant part of it, for at least EUR 5 million.
The decision announced in October by the management was endorsed by shareholders.
Present on the market since 1991, Remedia operates 90 retail units, which bring about 20% of the ...

President of the National Council for Small and Medium-sized Private Enterprises (CNIPMMR), Florin Jianu, was elected on Tuesday vice-president of SMEunited, the association of crafts and SMEs in Europe, CNIPMMR informed in a release on Wednesday.At the elections organized in Brussels for the period 2020 - 2021, Alban Maggiar, European affairs deputy of the French Confederation of SMEs, was voted the new president of SMEunited. The organization also has 20 ...

Canadian group Telus International, one of the biggest providers of business process outsourcing (BPO) services in the world, will take over European competitor Competence Call Center (CCC) for EUR 915 million (about USD 1 billion).
This deal is the biggest in the company’s history and will help Telus International consolidate its position and immediately increase the company’s value, according to a press release quoted ...

Chinese investment fund Sino CEEF wants to buy Romania’s second-biggest private healthcare chain Regina Maria, which has been put up for sale by the investment fund Mid Europa Partners.
The Chinese fund is reportedly leading in the race for the Romanian group, according to sources in the mergers and acquisitions market quoted ...

Small companies are the category recording most payment delays, 43% of total, while large and medium companies have 20% of total each, according to the annual KeysFin study “Business Conditions in Romania”, which shows that delayed payments of non-financial companies have grown by 7% compared to 2009, but dropped by 30% against the top reached in 2014, reaching 86 billion lei in 2018.
Although Romanian economy has had a growing ...

ING Bank Romania reported a gross profit of RON 704 million (EUR 148 mln) in the first three quarters of 2019, 17% higher than in the same period last year.
The net profit rose to RON 599 mln (EUR 124 mln). The profits thus rose faster than the stock of loans or deposits, which advanced with rates of around 10% year-on-year at the end of September.
The bank’s revenues increased by 13% compared to the same period last year, ...

The use of Google services and products brings Romanian companies 4.3 billion lei in annual turnover, mainly through the use of Google Search and Google Ads, shows the report 'The impact of Google products in Romania' by British company Public First, presented on Tuesday at a conference in Bucharest.According to the survey, in the past five years the economic activity supported by Google Search and Google Ads has more than doubled in nominal terms.The ...

The Danish Rockwool Group, the world’s largest basalt mineral wool producer, has opened its first plant in Romania, following a EUR 50 million investment.
The factory has a capacity of about 45,000 tonnes per year, and it is the largest specialized factory in our country. The plant stretches on a 30-ha plot of land, within Ploiesti West Park in Aricestii Rahtivani, near Ploiesti.
The raw material mostly comes from Romania, ...

According to Top Employers 2019 study, conducted based on reviews provided by the Romanian employees across the Romania-based companies on Undelucram.ro, this year comes with some surprises.
If in 2018 the first positions were filled by the IT&C companies and the big corporate firms, the top employers of 2019 were, with only one exception, companies that did not make it in the top ten last year.
Thus, the first three top ...

Holzindustrie Schweighofer will become HS Timber Group according to a statement released by the organization, announces Agerpres. Part of the Schweighofer group, the Austrian wood company has been active in Romania since 2002, opening its first sawmill in 2003.
The three sawmills in Reci, Radauti and Sebes, the edge glued panels factory in Siret and the lumber factory in Kodersdorf, Germany, will now be operated under the name HS Timber ...

The number of deregistered companies increased by more than 36 per cent in the first ten months of the year, compared with the similar period of 2018, up to 89,274 companies, according to the statistical data provided by the National Trade Register Office (ONRC).The largest number of deregistrations was recorded in Bucharest - 10,699 companies (2.42 per cent more compared with January-October 2018) and in Iasi - 4,577 (plus 75.1 per cent), Cluj - 3,409 (plus 21, ...

Niro Investment Group has signed a 24-million-euro financing contract with Libra Internet Bank for the construction of a building that is to become the tallest hotel in Bucharest, under the Swissotel brand, informs the company in a release issued on Monday.The real estate project is currently under construction on the Exhibition Boulevard and is to be operated by the Accor group, under the Swissotel brand.The construction of the building began in ...

The number of companies and self-employed persons facing insolvency fell by 26.42 percent in the first ten months of 2019 compared with the similar period of 2018, to 5,170, according to data posted on the website of the National Companies Register Office (ONRC).Most of them were in Bucharest, namely 915, down 33.31 percent from the same period of 2018. The ranking continues with the counties of Bihor, 432 insolvencies (-11.29 percent), Timis, 277 (-25.94 percent) ...